Listen to this article now |
After a hiatus of nearly nine months, Tesla is back in action, accepting orders for its coveted Model 3 Long Range sedan in the United States. The automotive giant has not only revived this electric gem but has also sweetened the deal with a more budget-friendly price point. This strategic move aims to democratize the electric vehicle (EV) landscape, bringing the allure of EVs within reach for the average consumer.
The narrative began in the summer of 2022 when Tesla, due to an unprecedented backlog, made the tough decision to halt new orders for the Model 3 Long Range, a dazzling electric sedan renowned for its impressive 325-mile range. Fast-forward to today, and Elon Musk’s automotive juggernaut has fired up its production lines once more, with deliveries of this exceptional EV set to commence as early as June 2023, as reported by Reuters.
In a thrilling turn of events, the Model 3 reenters the market boasting a price tag approximately 18.5% lower than its August 2022 offering of $57,990. As of August 2023, the Model 3 Long Range can be ordered at the attractive price of $47,240, marking a substantial reduction.
Notably, the standard rear-wheel drive Model 3, available at just over $40,000 during the same period, steals the spotlight as a budget-friendly option, undercutting the average cost of new vehicles in the U.S. by a substantial $8,000. This shift is poised to address the financial concerns that have held back countless potential EV enthusiasts.
While the undeniable public health benefits of increasing EV adoption—such as diminished air pollution and enhanced respiratory well-being—have been extensively documented, the price point has remained a significant barrier for many American consumers. The cost hurdle stands as the principal roadblock preventing widespread engagement in the EV market.
An intriguing statistic reveals that almost 70% of consumers harbor hopes of securing an EV for less than $50,000. The reintroduction of the Model 3 Long Range aligns perfectly with this aspiration, and the base model’s even more pocket-friendly price could serve as the catalyst for an upswing in the transition from conventional gas-powered vehicles to the all-electric realm.
Reports underscore another compelling facet of the equation: EV drivers typically enjoy a whopping 60% reduction in annual fuel costs compared to their gas-powered counterparts. Given that overall vehicle operating costs rank among the top deterrents for embracing EVs, the Model 3’s elimination of the need for a gas budget offers another layer of appeal.
For those still on the fence about relinquishing traditional gas-engine vehicles, an extra nudge comes in the form of a $7,500 tax credit offered by the federal government to numerous EV buyers.
Elon Musk himself underscored this shift in perception, noting, “A lot of people still think Teslas are super expensive because we did start out with an expensive sports car then a slightly less expensive sedan, and SUV but now we’re at the point where the starting price of Tesla is actually below the average selling price of a car in the United States. So Teslas are actually much more affordable than people realize,” in a recent interview with CNBC.
In essence, Tesla’s strategic revival of the Model 3 Long Range heralds a new era of accessibility, wherein the allure of cutting-edge EV technology intertwines seamlessly with budget-conscious considerations. As the automotive landscape evolves, Tesla continues to demonstrate its commitment to driving change on multiple fronts, ranging from the environmental to the financial.
